Brightoil Petroleum, a marine bunkering service provider in China, has taken delivery of its second ocean-going oil tanker in Japan. The tanker was purchased in March 2010.
The company said its capacity to transport oil products will be increased while operating costs will be lowered. As the company is expanding its global marine bunkering operation, the expansion of tanker fleet will create greater synergies.
Sit Lam, chairman and CEO of Brightoil Petroleum, said: “The group is determined to create an integrated supply chain for its marine bunkering operation. We are actively developing a global fleet in order to support the rapid growth of our marine bunkering and oil trading businesses. Over the past six months, we have acquired two ocean-going oil tankers with capacity of 107,500 DWT each.
“Taking advantage of the significant decrease in ship prices, we will establish a fleet comprising ocean-going oil tankers and marine bunker tankers with sizes ranging from 5,000 DWT to 300,000 DWT through acquisition, leasing or hire-purchase arrangements within this and the next financial year. With the expansion of the fleet, we will be able to capture opportunities brought about by the gradual recovery of the global shipping industry.”
The group owns two ocean-going oil tankers with capacity of 107,500 DWT and a consideration of $52.5m each. They will be used for transporting fuel oil or crude oil internationally. Built to common structural rules, both vessels have stronger and durable hull structures.
The maximum discharge rate of each vessel is 9,000m(3)/hr. The newly-acquired oil tanker is also equipped with advanced equipment and is eligible for navigation in the European waters.